Market Scope
Market Research Future (MRFR) believes that the Glass Additives Market Size can garner significant impetus between 2022 and 2027 (analysis period).
Major Drivers and Barriers
Glass is a brittle, non-crystalline solid that can be manipulated easily based on their properties to cater to certain industrial use-cases. Additives are the facilitators that help mold inherent characteristics and elevate the quality of the resultant product. Innovations in manufacturing technologies such as the use of inorganic compound known as lanthanum oxide as an extra compound helps foster the strength as well as refractive index, will help enhance the demand and ultimately the market size in the coming years.
Furthermore, glass additives are extensively used for customizing tableware, eye wear and lamps, as these lend durability to products as well as properties such as anti-glare, water repellency, refined opaqueness, UV protection, high resistance and more. Considering these appealing properties and benefits, the demand for glass additives and their use in a number of products across various industries should warrant substantial market growth over the following years.
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The glass additives market share is also experiencing growth in the pharmaceutical industry, thanks to the surging use in enhanced additive compounds to impart sustainability and strength against reactive substances. In 2016, the spending on the US pharmaceutical sector crossed USD 50 million, thereby fostering the need for efficient packaging options. Glass additive packaging prevents crack, provide uniform surface chemistry, facilitate smoother line operations and reduce particulate formation.
Segmentation Insight
Glass Additives Market has been considered for product and application.
The products highlighted in the MRFR report are nanoparticles, polymers & rare earth metals as well as metal oxide. Metal oxides are the biggest segment, product-wise, since these are largely used to color or enhance certain characteristics including elevating the electrical and thermal conductivity, to name a few. The most popular metal oxides used to color are manganese oxide, cobalt oxide, ferric oxide, and more. Meanwhile, the soaring preference for scratch-resistant windowpanes in mobile phones, automobiles, and laptops, will fuel the growth of the nanoparticles segment in the coming years.
In terms of application, the major market segments include packaging, building & construction, electronics & appliances, automotive & transportation, and others. Glass additives’ use in packaging applications is quite extensive and is rising even further as consumers are increasingly opting for specialized products that offer properties including anti-glare, scratch resistance, durability and UV protection. Also, the exploding global population paired with their hectic work schedule has raised the demand for packaged food products, resulting in higher growth of the segment.
Affluent Companies
The key contenters in the glass additives industry include Lynas Corporation Ltd (Australia), Torrecid Group (Spain), HAMMOND GROUP INC (U.S.), Namibia Rare Earths Inc. (Canada), Potters Industries LLC (U.S.), GILLINDER GLASS (U.S.), METALL RARE EARTH LIMITED (China), Ardagh Group (Republic of Ireland), SCHOTT AG (Germany), DuPont. (U.S.), to mention a few.
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Regional Status
Glass additives market is regionally split into Asia Pacific/APAC, Latin America, Europe, MEA or Middle East & Africa and North America.
Europe houses the biggest market and has therefore, attained the leading spot, with APAC and North America right behind. The market growth in the forthcoming years will be ensured by the expanding packaging and electronics industries present in the region. Countries like Spain, Russia, Italy, Germany, the U.K and France are some of the top markets in the region, thanks to the presence of highly established industries along with rising spending on R&D activities. Manufacturers increasingly taking up new and more effective business models also favors the European market.
North America will be a significant gainer in the global market over the review period, largely due to the rapid re-emergence of the industrial sector and the surging investments on revitalization of the construction and building industry. Developed countries like Canada and the US, with their well-developed construction sector, will be prime markets for glass additives in the region.
Asia Pacific should capture the fastest growth rate over the appraisal period, in view of escalating product use in several applications including automotive, packaging, building & construction, and many more. Glass additives is witnessing robust demand in emerging countries like China, India, Vietnam and Malaysia, thanks to the rapid pace at which the automobile production as well as sales are growing. The mounting number of personal vehicle owners and the increase in working professionals along with accelerated preference for ready to eat food products enhancing the demand for packaged foods also push the demand for glass additives in the region.
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